NEW YORK: Omnicom Group reported today that its PR discipline had performed very strongly during the third quarter of 2006, generating $290.9 million in revenue, representing an increase of 13.1% versus the third quarter of 2005.
PR represented 10.5% of the revenue generated by Omnicom's marketing services division. Worldwide revenue increased over 10% to $2.8 billion from $2.5 billion in Q3 of 2005. And Omnicom also reported that net income for the third quarter increased 9.5% to $177.1 million from $161.7 million in Q3 of 2005.
Randall Weisenburger, EVP and CFO of Omnicom said in a teleconference that Omnicom's overall marketing services business grew 12.6% in the quarter. Weisenburger said that success has been driven by the "continuing strong performance of the CRM business and now the resurgence of the PR sector. PR picked up significantly"
"We're very pleased with the performance across each of our service disciplines," said John Wren, president of Omnicom, during the teleconference. "They are all performing well. More specifically our PR business is now performing at a level that we've been expecting for quite a while and this is reflective in both the quality of these firms and the quality of their work."